Four Decades for Justice
Environmental
Our environmental lawyers have extensive experience advising and supporting clients on complicated environmental issues across a broad range of contexts, including mergers and acquisitions, debt and equity offerings, bank loans and other business transactions. We also advise corporate clients and their boards of directors on evolving, and often novel, challenges and opportunities associated with environmental, social and governance (ESG) issues, sustainability concerns and climate change. In addition, we represent clients in complex environmental litigation and investigations, including those relating to remediation matters, climate change and indemnification disputes.
Environmental matters facing businesses are increasingly complex and sophisticated, both legally and scientifically. They often involve difficult technical and regulatory issues that can have significant effects on both day‑to‑day operations and strategic business decisions. As public awareness and investor expectations continue to increase with respect to the management and reporting of such matters, companies must address risks that can impact their financial and reputational core.
We are frequently engaged to assist clients in identifying, assessing and allocating environmental liabilities in corporate transactions, including addressing legal challenges relating to environmental regulatory issues, remediation and other liability matters and SEC environmental disclosure requirements. This also includes the management of significant post‑closing environmental indemnification obligations and legacy liabilities, such as mass toxic tort matters, and resolving environmental‑related contractual disputes. We also regularly advise clients on sustainability reporting and ESG‑related shareholder engagement and proxy matters. Our experience in virtually every industry enables us to understand the long‑term operational and strategic needs of our clients as well as industry‑wide trends and practices, and we use that knowledge to help develop practical solutions to environmental problems and to use environmental opportunities to their best advantage.
Cravath has been ranked as a top‑tier firm for our environmental transactional expertise by Chambers USA since its inception in 2003, and the publication quotes clients as saying:
- Cravath’s environmental practice is “superb” for its “breadth and depth of resources, expertise and flexibility.”
- “There is a total focus on the client and the service is extraordinary.”
- “They are timely and proactive, acting essentially as an in‑house resource at times, but with a very good understanding of market standards and the ever‑changing regulatory landscape.”
- Cravath’s environmental lawyers are “very responsive and pragmatic.”
- “They solve problems, are always available and provide a prompt service.”
- “Outstanding service provided in complex deals.”
- “The firm is very service-oriented, does a good job with staffing, is responsive and communicates well.”
With respect to environmental‑related litigation, which often can involve high‑stakes disputes across multiple forums and involve novel and varied legal theories, Cravath’s litigators are ideally positioned to secure results that can reshape legal and business landscapes for our clients. In defending against these actions, we draw on our technical knowledge to comprehensively address the substantive claims, while our generalist litigation training equips us with the skills to simultaneously manage, coordinate and direct a successful defense, often of numerous concurrent actions.
Environmental matters facing businesses are increasingly complex and sophisticated, both legally and scientifically. They often involve difficult technical and regulatory issues that can have significant effects on both day‑to‑day operations and strategic business decisions. As public awareness and investor expectations continue to increase with respect to the management and reporting of such matters, companies must address risks that can impact their financial and reputational core.
We are frequently engaged to assist clients in identifying, assessing and allocating environmental liabilities in corporate transactions, including addressing legal challenges relating to environmental regulatory issues, remediation and other liability matters and SEC environmental disclosure requirements. This also includes the management of significant post‑closing environmental indemnification obligations and legacy liabilities, such as mass toxic tort matters, and resolving environmental‑related contractual disputes. We also regularly advise clients on sustainability reporting and ESG‑related shareholder engagement and proxy matters. Our experience in virtually every industry enables us to understand the long‑term operational and strategic needs of our clients as well as industry‑wide trends and practices, and we use that knowledge to help develop practical solutions to environmental problems and to use environmental opportunities to their best advantage.
Cravath has been ranked as a top‑tier firm for our environmental transactional expertise by Chambers USA since its inception in 2003, and the publication quotes clients as saying:
- Cravath’s environmental practice is “superb” for its “breadth and depth of resources, expertise and flexibility.”
- “There is a total focus on the client and the service is extraordinary.”
- “They are timely and proactive, acting essentially as an in‑house resource at times, but with a very good understanding of market standards and the ever‑changing regulatory landscape.”
- Cravath’s environmental lawyers are “very responsive and pragmatic.”
- “They solve problems, are always available and provide a prompt service.”
- “Outstanding service provided in complex deals.”
- “The firm is very service-oriented, does a good job with staffing, is responsive and communicates well.”
With respect to environmental‑related litigation, which often can involve high‑stakes disputes across multiple forums and involve novel and varied legal theories, Cravath’s litigators are ideally positioned to secure results that can reshape legal and business landscapes for our clients. In defending against these actions, we draw on our technical knowledge to comprehensively address the substantive claims, while our generalist litigation training equips us with the skills to simultaneously manage, coordinate and direct a successful defense, often of numerous concurrent actions.
Deals & Cases
September 27, 2023
Ovintiv Inc.’s Registered Secondary Offering of Common Stock
Cravath represented the underwriter in connection with the $681.8 million registered secondary offering of common stock of Ovintiv Inc., a leading North American oil and natural gas exploration and production company. The shares were listed on the New York Stock Exchange and the Toronto Stock Exchange. The transaction closed on September 13, 2023.
Deals & Cases
September 19, 2023
Lindsay Goldberg’s Acquisition of The Kleinfelder Group
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
September 18, 2023
OMERS Private Equity’s Acquisition of Knight Commercial
On September 18, 2023, OMERS Private Equity announced the signing of a definitive agreement to acquire a majority stake in Knight Commercial, a leading provider of commercial restoration services. Cravath is representing OMERS Private Equity in connection with the transaction.
Deals & Cases
September 14, 2023
Bacardi’s Acquisition of ILEGAL Mezcal
On September 11, 2023, Bacardi Limited (“Bacardi”), the largest privately held international spirits company in the world, announced the completion of a transaction that makes the family‑owned company the sole owner of ILEGAL Mezcal®, a leading super premium artisanal mezcal. Cravath is representing Bacardi in connection with the transaction.
Deals & Cases
September 12, 2023
WestRock’s $20 Billion Combination with Smurfit Kappa to Create Global Leader in Sustainable Packaging
On September 12, 2023, the Boards of WestRock and Smurfit Kappa announced the signing of a definitive transaction agreement to create Smurfit WestRock, a global leader in sustainable packaging. Together, Smurfit Kappa and WestRock generated combined last twelve months’ adjusted annual revenue of approximately $34 billion as of June 30, 2023. Cravath is representing WestRock in connection with the transaction.
Accolades
June 23, 2023
Cravath Partners Featured by Crain’s as 2023 “Notable Women in Law”
Cravath partners Margaret T. Segall and Sasha Rosenthal‑Larrea were named to Crain’s New York Business’s 2023 list of “Notable Women in Law,” published on June 20, 2023. The feature honors lawyers who have “performed consequential legal or pro bono work, served as mentors, promoted inclusivity and assumed leadership roles in civic or philanthropic endeavors.”
Accolades
June 01, 2023
Chambers USA Ranks Cravath in Top Tier for 2023 Across Corporate, Litigation and Tax Practice Areas
The 2023 edition of Chambers USA ranked Cravath in the top tier nationally in six areas: Antitrust; Capital Markets (Investment Grade Debt – Manager Counsel); Corporate/M&A (The Elite); Securities (Litigation); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in seven areas: Antitrust; Corporate/M&A (The Elite); Environment (Mainly Transactional); Litigation (General Commercial: The Elite); Litigation (Securities); Media & Entertainment (Corporate); and Tax. Forty‑three Cravath lawyers were ranked across 19 practice categories.
Activities & Publications
May 18, 2023
Matthew Morreale and Michael Arnold Author Q&A on the SEC’s Proposed Climate Disclosure Rule and 10‑K Filings for Watershed
On May 11, 2023, enterprise climate platform Watershed published a Q&A on its blog authored by Cravath partners Matthew Morreale and Michael L. Arnold entitled “Ask a lawyer: What does the SEC’s climate rule mean for 10‑K filings?” The Q&A examines how the SEC’s proposed climate disclosure rule could impact domestic public companies’ annual Form 10‑K processes, which requirements will be the most challenging for those companies to comply with and why it’s important for companies to start preparing now.
Activities & Publications
February 07, 2023
John White, Matt Morreale and Michael Arnold Author Chapter on ESG Data Gathering and Disclosure for International Comparative Legal Guides – Environmental, Social & Governance Law 2023
Cravath partners John W. White, Matthew Morreale and Michael L. Arnold authored an expert analysis chapter of the International Comparative Legal Guides – Environmental, Social & Governance Law 2023, which provides cross‑border insights into environmental, social and governance (“ESG”) laws and was published by Global Legal Group on January 26, 2023. The chapter, entitled “Practical Steps for Board and Management Supervision of ESG Data Gathering and Disclosure,” reviews the current landscape of ESG data and disclosure, relevant drivers and challenges, the steps management should take and consider when producing disclosure‑ready data, and the role of boards of directors in supervising the ESG data gathering and disclosure processes.
Accolades
February 06, 2023
Cravath Partners Named to Lawdragon’s 2023 List of Leaders in Environmental Law
On February 3, 2023, Cravath partners Matthew Morreale and Michael L. Arnold were named to Lawdragon’s list of “Green 500: Leaders in Environmental Law” in recognition of their work advising clients on “corporate governance, environmental transactions and ESG matters.” The list recognizes lawyers who “represent the remarkable breadth amassed in environmental law” and “help clients build more sustainable businesses.”
Deals & Cases
September 27, 2023
Ovintiv Inc.’s Registered Secondary Offering of Common Stock
Cravath represented the underwriter in connection with the $681.8 million registered secondary offering of common stock of Ovintiv Inc., a leading North American oil and natural gas exploration and production company. The shares were listed on the New York Stock Exchange and the Toronto Stock Exchange. The transaction closed on September 13, 2023.
Deals & Cases
September 19, 2023
Lindsay Goldberg’s Acquisition of The Kleinfelder Group
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
September 18, 2023
OMERS Private Equity’s Acquisition of Knight Commercial
On September 18, 2023, OMERS Private Equity announced the signing of a definitive agreement to acquire a majority stake in Knight Commercial, a leading provider of commercial restoration services. Cravath is representing OMERS Private Equity in connection with the transaction.
Deals & Cases
September 14, 2023
Bacardi’s Acquisition of ILEGAL Mezcal
On September 11, 2023, Bacardi Limited (“Bacardi”), the largest privately held international spirits company in the world, announced the completion of a transaction that makes the family‑owned company the sole owner of ILEGAL Mezcal®, a leading super premium artisanal mezcal. Cravath is representing Bacardi in connection with the transaction.
Deals & Cases
September 12, 2023
WestRock’s $20 Billion Combination with Smurfit Kappa to Create Global Leader in Sustainable Packaging
On September 12, 2023, the Boards of WestRock and Smurfit Kappa announced the signing of a definitive transaction agreement to create Smurfit WestRock, a global leader in sustainable packaging. Together, Smurfit Kappa and WestRock generated combined last twelve months’ adjusted annual revenue of approximately $34 billion as of June 30, 2023. Cravath is representing WestRock in connection with the transaction.
Accolades
June 23, 2023
Cravath Partners Featured by Crain’s as 2023 “Notable Women in Law”
Cravath partners Margaret T. Segall and Sasha Rosenthal‑Larrea were named to Crain’s New York Business’s 2023 list of “Notable Women in Law,” published on June 20, 2023. The feature honors lawyers who have “performed consequential legal or pro bono work, served as mentors, promoted inclusivity and assumed leadership roles in civic or philanthropic endeavors.”
Accolades
June 01, 2023
Chambers USA Ranks Cravath in Top Tier for 2023 Across Corporate, Litigation and Tax Practice Areas
The 2023 edition of Chambers USA ranked Cravath in the top tier nationally in six areas: Antitrust; Capital Markets (Investment Grade Debt – Manager Counsel); Corporate/M&A (The Elite); Securities (Litigation); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in seven areas: Antitrust; Corporate/M&A (The Elite); Environment (Mainly Transactional); Litigation (General Commercial: The Elite); Litigation (Securities); Media & Entertainment (Corporate); and Tax. Forty‑three Cravath lawyers were ranked across 19 practice categories.
Activities & Publications
May 18, 2023
Matthew Morreale and Michael Arnold Author Q&A on the SEC’s Proposed Climate Disclosure Rule and 10‑K Filings for Watershed
On May 11, 2023, enterprise climate platform Watershed published a Q&A on its blog authored by Cravath partners Matthew Morreale and Michael L. Arnold entitled “Ask a lawyer: What does the SEC’s climate rule mean for 10‑K filings?” The Q&A examines how the SEC’s proposed climate disclosure rule could impact domestic public companies’ annual Form 10‑K processes, which requirements will be the most challenging for those companies to comply with and why it’s important for companies to start preparing now.
Activities & Publications
February 07, 2023
John White, Matt Morreale and Michael Arnold Author Chapter on ESG Data Gathering and Disclosure for International Comparative Legal Guides – Environmental, Social & Governance Law 2023
Cravath partners John W. White, Matthew Morreale and Michael L. Arnold authored an expert analysis chapter of the International Comparative Legal Guides – Environmental, Social & Governance Law 2023, which provides cross‑border insights into environmental, social and governance (“ESG”) laws and was published by Global Legal Group on January 26, 2023. The chapter, entitled “Practical Steps for Board and Management Supervision of ESG Data Gathering and Disclosure,” reviews the current landscape of ESG data and disclosure, relevant drivers and challenges, the steps management should take and consider when producing disclosure‑ready data, and the role of boards of directors in supervising the ESG data gathering and disclosure processes.
Accolades
February 06, 2023
Cravath Partners Named to Lawdragon’s 2023 List of Leaders in Environmental Law
On February 3, 2023, Cravath partners Matthew Morreale and Michael L. Arnold were named to Lawdragon’s list of “Green 500: Leaders in Environmental Law” in recognition of their work advising clients on “corporate governance, environmental transactions and ESG matters.” The list recognizes lawyers who “represent the remarkable breadth amassed in environmental law” and “help clients build more sustainable businesses.”
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